Registered No.-768/97 'opf11 THE ASSAM GAZETTE ~~ct EXTRAORDINARY ~ 4'#'01 ~ ti41fi"N> PUBLISHED BY AUTHORITY ~ 111 ~9.[~. "lJRR, 5 ~ef. 1998, 15 ~. 1920 (¥f<fi) No.111 Dispur, Friday, 5th June, 1998, 15th· Jyaistha, 1920 (S.E.)
GOVERNMENT OF ASSAM ORDERS BY 1HE GOVERNOR LEGISLATIVE DEPARTMENT:: LEGISLATIVE BRANCH NOTIFiCATION The 4th June, 1998 No.LGL.45/93/130.--The following Act of the Legislative Assembly which received the assent of the Governor is hereby published for general information.
(' 904 Tiffi ASSAM GAZETIE. EXTRAORDINARY. JUNE 5. 1998 ASSAM ACT No. VI of 1998 (Received the Assent of the Governor on 30th May, 1998) TIIE ASSAM TAXATION LAWS (AMENDMENI) ACT, 1998.
Preamble.
Short title, and AN ACT further to amend the Assam Taxation (On Specified Lands) Act, 1990 and the Assam Agricultural Income Tax Act, 1939.
Whereas it is expedient further to amend the Assam Taxation (On Specified Lands) Act, 1990 and the Assam Agricultural Income Tax Act, 1939, in the manner herein-after appearing ; · Assam Act-XII of 1990 and Assam ActIXof It is hereby enacted in the Forty-ninth Year of 1939 · the Republic of India as follows :-
1.(1) This Act may be called the Assam Taxation Laws (Amendment) Act, 1998.
commencement.
Amendment of Section-5.
(2) It shall be deemed to have· come- into force on the 1st day of April, 1998.
CHAPTER - I Amendment to the Assam Taxation (On Specified Lands) Act, 1990. · ,. '
2. In the Assam Taxation (On Specified Lands) Act, · 1990, in section 5, -
(i) in clause (c), for the word "thiny" occuring at Assam the beginning, the word "thirty two" shaJl be Act-XII substituted ; of 1990.
(ii) in clause (d), for the words "twenty seven", occuring before the word "paise" at the end, the words "twenty nine" shall be substituted.
CHAPTER-II Amendments to the Assam Agricultural Income Tax Act, 1939.
THE ASSAM GAZETIE. EXTRAORDINARY. JUNE 5. 1998 905 Amendment 3. In the Assam Agricultural Income Tax Act, 1939, Assam of section 8. (herein-after referred to as the principal Act) in Act-IX section 8, after sub-section (4), the following new of 1939.
sub-section as sub~section (5) shall be inserted, namely:- "(5) In determining the net agricultural income, a deduction at the rate of 50 (fifty) paise for every kilogram of tea exported through Inland Container Depot (ICD), Amingaon shall be allowed to the assessee from his agricultural income :
Provided that this deduction shall be effective on and from 1st April, 1998 for a period of two years only.
Provided further that the State Government may, by notification in the Official Gazette, extend the period of deduction for further periods, not exceeding one year at a time, subject to such conditions and restrictions as may be specified in the said notification."
Amendment 4. In the principal Act, in section 16, in sub-section of section 16. (2), for the punctuation mark " . ", occuring at the end, punctuation mark " : ." shall be substituated and thereafter the following proviso shall be inserted, namely :
"Provided that if any assessee fails to file his return of loss of profits or gains for any year in time in accordance with the provisions of sub-section (1) of section 19, his claim for carry-forward and set off of such loss against any future income as per provisions of sub-section (1) or ·sub-section (2) of this section shall not be entertained."
Amendment 5. In the principal Act, in section 52, for the figures of section 52. "1993-94", occuring between the words "year" and "shall", the figures "1994-95" shall be substituted.
M.K.DEKA, Secretary to the Govt. of Assam, Legislative Department.
GUW AHATI-Printed and published by the Dy. Director (P. & S.) Directorate of Ptg. & Sty., Assam, Guwahati-21 (Ex-Gazette) No. 175-450-600-9-6-98.